Viavi Solutions (NASDAQ:VIAV) Lowered to “Hold” Rating by StockNews.com

Viavi Solutions (NASDAQ:VIAV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other analysts also recently weighed in on VIAV. Rosenblatt Securities increased their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Northland Securities raised their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Stifel Nicolaus decreased their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price on the stock. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

Shares of VIAV traded down $0.31 during trading hours on Thursday, hitting $9.88. The stock had a trading volume of 870,672 shares, compared to its average volume of 1,783,567. The company’s fifty day moving average is $9.45 and its two-hundred day moving average is $8.29. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -58.11 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts anticipate that Viavi Solutions will post 0.19 EPS for the current year.

Insider Activity

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly owns 225,333 shares of the company’s stock, valued at $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the sale, the senior vice president now owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,949 shares of company stock valued at $489,511. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VIAV. Sanctuary Advisors LLC raised its holdings in shares of Viavi Solutions by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after buying an additional 4,875 shares during the period. Geode Capital Management LLC increased its holdings in shares of Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after acquiring an additional 54,633 shares during the period. Barclays PLC increased its holdings in shares of Viavi Solutions by 4.4% in the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock valued at $4,856,000 after acquiring an additional 22,893 shares during the period. MML Investors Services LLC boosted its position in shares of Viavi Solutions by 34.3% in the 3rd quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Dean Investment Associates LLC boosted its position in shares of Viavi Solutions by 189.6% in the 3rd quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after purchasing an additional 183,481 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.